FinArc Investments Inc. Takes Position in Carrier Global Corporation $CARR

Key Points

• FinArc Investments acquired 37,802 Carrier Global shares worth approximately $2.13 million, making CARR its 22nd-largest holding and 2% of its portfolio. Institutional investors collectively own about 91% of the stock.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and 10 Holds producing a consensus “Moderate Buy” rating and an average price target of $73.67.
• Carrier Global exceeded quarterly expectations, reporting $0.86 EPS versus $0.82 expected and $6.35 billion in revenue. The company also declared a quarterly dividend of $0.24 per share, equal to a 1.6% annualized yield.

FinArc Investments Inc. acquired a new position in shares of Carrier Global Corporation (NYSE:CARR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 37,802 shares of the company's stock, valued at approximately $2,129,000. Carrier Global comprises 2.0% of FinArc Investments Inc.'s investment portfolio, making the stock its 22nd largest holding.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Carrier Global in the 4th quarter valued at approximately $380,299,000. Ontario Teachers Pension Plan Board purchased a new stake in shares of Carrier Global during the 4th quarter valued at approximately $99,839,000. Voloridge Investment Management LLC raised its position in shares of Carrier Global by 865.3% during the 4th quarter. Voloridge Investment Management LLC now owns 1,974,350 shares of the company's stock valued at $104,325,000 after buying an additional 1,769,813 shares during the period. Victory Capital Management Inc. lifted its holdings in Carrier Global by 44.1% in the fourth quarter. Victory Capital Management Inc. now owns 4,783,753 shares of the company's stock valued at $252,774,000 after acquiring an additional 1,465,144 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Carrier Global by 1,808.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,501,855 shares of the company's stock valued at $79,358,000 after acquiring an additional 1,423,152 shares during the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CARR has been the subject of several analyst reports. Rothschild & Co Redburn increased their price objective on Carrier Global from $61.00 to $73.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Wells Fargo & Company upped their price target on Carrier Global from $58.00 to $71.00 in a research note on Friday, May 1st. Royal Bank Of Canada increased their price target on Carrier Global from $71.00 to $81.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price objective on Carrier Global from $63.00 to $67.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Finally, Wolfe Research restated an "outperform" rating and issued a $80.00 price objective on shares of Carrier Global in a report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $73.67.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $61.36 on Friday. The stock has a market capitalization of $50.97 billion, a price-to-earnings ratio of 42.61, a price-to-earnings-growth ratio of 2.32 and a beta of 1.31. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.75. The business has a 50-day moving average of $68.54 and a 200 day moving average of $63.49. Carrier Global Corporation has a 12 month low of $50.24 and a 12 month high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, sell-side analysts forecast that Carrier Global Corporation will post 2.88 earnings per share for the current year.

Carrier Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, July 21st will be issued a $0.24 dividend. The ex-dividend date is Tuesday, July 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.6%. Carrier Global's payout ratio is 66.67%.

Carrier Global Company Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.

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